Overall, buyers’ ages have jumped from a median of 31 in 1981 to 47 in 2019. While many attribute that increase to the rising age of first-time buyers, there is more to the story.
Owners typically stay fewer years in their homes in metro areas with a high concentration of new residents, a NAR analysis shows.
At the national level, housing affordability conditions improved in October 2019 compared to last a year ago but slightly fell compared to September, according to NAR’s Housing Affordability Index.
October's pending home sales pace was down 1.7% last month, but rose 4.4% from a year ago.
The South and Midwest regions have accounted for an increasing fraction of existing home sales since 2012 while the shares of the North and West regions have declined, according to the October 2019 existing home sales estimates of the National Association of REALTORS®.
Based on data from the recently released 2019 Profile of Home Buyers and Sellers, we can see how multi-generation homes are becoming more common and living close to friends and family is more and more important to home buyers.
Counties with public school enrollment gains experienced higher price appreciation in the last 7 years, a NAR analysis shows.
Because of lower mortgage rates, affordability improved in September 2019 despite rising home prices.
Quarterly home prices increased again this past quarter, with 93% of the markets showing home price appreciation.
In NAR's 2019 Member Profile, only 4% of REALTORS® stated that real estate was their first career.
Search Economists' Outlook
